"Serving in the federal parliament at such a senior level from WA is tough on our families," Mr Cormann admitted.

"Michael had no kids when he first got elected back in 2004. Today he and Georgina have four beautiful boys.

"We are sad to see him go, but entirely understand and respect the reasons for his decision."

The exodus of senior government MPs began last week, when Minister for Jobs and Women Kelly O'Dwyer said she would not recontest her seat Higgins.

Ms O'Dwyer also cited personal reasons for her decision, saying she wanted to have another child.

Kelly O’Dwyer. Picture: AAP

There could be more high profile resignations to come as Liberal and National MPs face the prospect of losing the election, which is expected in May.

Today The Australian reported Prime Minister Scott Morrison had spent two hours meeting with former minister Craig Laundy, a prominent supporter of Malcolm Turnbull, in an attempt to convince him to stay.

The Liberals currently hold his seat Reid by a margin of 4.7 per cent.